Analog Devices, Inc. (NASDAQ:ADI) Shares Bought by Fifth Third Wealth Advisors LLC

Fifth Third Wealth Advisors LLC lifted its stake in shares of Analog Devices, Inc. (NASDAQ:ADI) by 42.5% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 7,274 shares of the semiconductor company’s stock after purchasing an additional 2,169 shares during the quarter. Fifth Third Wealth Advisors LLC’s holdings in Analog Devices were worth $1,674,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the stock. Capital Performance Advisors LLP acquired a new position in Analog Devices during the third quarter worth about $28,000. New Millennium Group LLC acquired a new stake in shares of Analog Devices in the 2nd quarter worth approximately $29,000. Archer Investment Corp increased its stake in Analog Devices by 101.4% in the 3rd quarter. Archer Investment Corp now owns 145 shares of the semiconductor company’s stock valued at $33,000 after purchasing an additional 73 shares in the last quarter. ORG Partners LLC raised its holdings in Analog Devices by 675.0% during the second quarter. ORG Partners LLC now owns 155 shares of the semiconductor company’s stock worth $35,000 after purchasing an additional 135 shares during the last quarter. Finally, CVA Family Office LLC boosted its position in Analog Devices by 40.2% during the second quarter. CVA Family Office LLC now owns 157 shares of the semiconductor company’s stock worth $36,000 after purchasing an additional 45 shares in the last quarter. Hedge funds and other institutional investors own 86.81% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on ADI shares. Cantor Fitzgerald restated a “neutral” rating and issued a $250.00 price target on shares of Analog Devices in a research report on Tuesday, October 8th. JPMorgan Chase & Co. raised their target price on shares of Analog Devices from $260.00 to $280.00 and gave the company an “overweight” rating in a report on Thursday, August 22nd. Oppenheimer reaffirmed an “outperform” rating and issued a $245.00 price target on shares of Analog Devices in a report on Thursday, August 22nd. Bank of America dropped their price objective on shares of Analog Devices from $260.00 to $255.00 and set a “buy” rating for the company in a research note on Thursday, August 22nd. Finally, Truist Financial lowered Analog Devices from a “buy” rating to a “hold” rating and reduced their target price for the company from $266.00 to $233.00 in a research note on Monday, September 23rd. Six analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $249.80.

Insider Buying and Selling

In other news, EVP Gregory M. Bryant sold 20,000 shares of the company’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $223.87, for a total value of $4,477,400.00. Following the completion of the sale, the executive vice president now owns 59,093 shares of the company’s stock, valued at $13,229,149.91. This represents a 25.29 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Vincent Roche sold 10,000 shares of the firm’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $223.87, for a total value of $2,238,700.00. Following the sale, the chief executive officer now owns 21,983 shares in the company, valued at approximately $4,921,334.21. The trade was a 31.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 111,495 shares of company stock valued at $25,229,958. 0.31% of the stock is currently owned by corporate insiders.

Analog Devices Stock Up 0.4 %

Shares of NASDAQ ADI opened at $210.43 on Wednesday. The stock has a market capitalization of $104.48 billion, a PE ratio of 63.19, a P/E/G ratio of 2.89 and a beta of 1.08. The company has a quick ratio of 1.24, a current ratio of 1.69 and a debt-to-equity ratio of 0.19. The firm has a fifty day moving average of $225.53 and a 200-day moving average of $225.51. Analog Devices, Inc. has a 52-week low of $179.44 and a 52-week high of $244.14.

Analog Devices (NASDAQ:ADI) last released its quarterly earnings data on Wednesday, August 21st. The semiconductor company reported $1.58 EPS for the quarter, topping analysts’ consensus estimates of $1.50 by $0.08. Analog Devices had a return on equity of 9.47% and a net margin of 17.07%. The company had revenue of $2.31 billion for the quarter, compared to the consensus estimate of $2.27 billion. During the same period last year, the business posted $2.49 EPS. The company’s quarterly revenue was down 24.8% compared to the same quarter last year. On average, analysts anticipate that Analog Devices, Inc. will post 6.34 EPS for the current year.

About Analog Devices

Analog Devices, Inc designs, manufactures, tests, and markets integrated circuits (ICs), software, and subsystems products in the United States, rest of North and South America, Europe, Japan, China, and rest of Asia. The company provides data converter products, which translate real-world analog signals into digital data, as well as translates digital data into analog signals; power management and reference products for power conversion, driver monitoring, sequencing, and energy management applications in the automotive, communications, industrial, and consumer markets; and power ICs that include performance, integration, and software design simulation tools for accurate power supply designs.